Hong Kong Stocks End Lower Thursday; GenFleet Therapeutics Launches IPO

Published on 09/11/2025 at 05:03 am EDT
(MT Newswires) -- Hong Kong stocks ended their winning streak Thursday following reports that the Trump administration is looking at placing curbs on medicines from China.
The Hang Seng Index fell 113.94 points, or 0.43%, to 26,086.32, while the Hang Seng China Enterprises Index dropped 67.91 points, or 0.73%, to 9,260.25.
According to The New York Times, the Trump administration recently sought feedback on a draft executive order that would place severe restrictions on medicines from China over national security concerns.
While a White House spokesperson denied the administration was actively considering the proposal, the development has set off lobbying from both for and against sides.
In corporate news, GenFleet Therapeutics (Shanghai)launched its initial public offering in Hong Kong, seeking to raise up to HK$1.58 billion via the sale of 77,600,000 shares at an indicative price of HK$20.39 apiece.
Elsewhere, Alibaba Group proposed to issue about $3.2 billion of zero-coupon convertible bonds due Sept. 15, 2032, to raise funds for enhancing its cloud infrastructure.
In other news, Bauhaus International activist investor David Webb, who owns over 8% of the business, asked the apparel company to drop plans to buy a residential flat in Hong Kong to avoid tying up capital in property.
Shares were up 5%.

Sumber : MT Newswires